Making Fund Boards More Independent and Accountable, a reader asserts that "taxes on SPY are only paid on the gains when you sell them." In fact, SPDRs can make capital gains distributions from their underlying trust, which are also subject to taxes. (

corrected July 1

)

The July 1 Herb on TheStreet column,

More Winners Than Losers in This Column's Report Card for the First Half, mistakenly reported that short-seller Marc Cohodes of

Rocker Partners

had predicted the stock of

Network Solutions

(NSOL:Nasdaq) would fall. Cohodes made that prediction about

Network Associates

(NETA:Nasdaq). (

corrected July 1

)

The June 8 Herb on TheStreet column,

Is Barclays About to Turn the Fund World Upside Down?, erroneously said that exchange-traded index funds proposed by

Barclays Global Investors

would be the first open-end funds to trade as stocks. In fact, Select Sector SPDRs and WEBS index funds already trade in that manner.

(corrected June 30)

The June 27 This Week in IPOs column,

Late Bloomers, incorrectly gave

ShowCase's

ticker symbol as SWHC. In fact, it is SHWC. (

corrected June 30

)

A June 25 story,

New Fund Invests in the Holy Land, but Don't Expect Miracles, incorrectly stated that the

Amidex35

fund is the first Israel-focused mutual fund. In fact, there was at least one other.

New England Funds

launched the

Growth Fund of Israel

in 1996 but folded it in early 1997 due to lack of investments. (

corrected June 30

)

A June 29 Bond Focus,

Long Bond Extends Gains Into a Third Day, incorrectly reported that the May

Consumer Confidence Index

reading of 138.4 was the highest since October 1969. The reading was the highest since October 1968. (

fund was down 0.2% in 1998. In fact, the fund was down 24.2% in 1998. Also, the story incorrectly referred to Merrill executive Chris Blunt as Chris Blount. (

corrected June 28

)

A June 25 story,

Elan's Upcoming Earnings Filing Has Shorts in a Lather, erroneously reported the potential impact of a reduced writeoff of

Elan's

(ELN:NYSE) acquisition of

Neurex

. The calculation did not take into account a June 4 2-for-1 stock split. If the

Securities and Exchange Commission

allows Elan to write off only 10% of the acquisition, the company would take a hit to earnings of 14 cents a share for the next 20 years, not 28 cents as reported. If the agency makes Elan only take a 40% write-off, the hit is about 9 cents a share a year, not 19 cents. (

corrected June 28

)

The June 25 Wing Tips column,

At American, Nothing Special in the Air, mistakenly implied that the

National Transportation Safety Board

would participate in a four-month review of safety issues at

American Airlines

. In fact, that review will be undertaken by the

Federal Aviation Administration

; the NTSB's review comes as part of a separate ongoing probe of an accident. (